No Longer Protected By MARP

A

Alwyn

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My bank have informed me that I am no longer protected under MARP and they will commence repossession proceedings in a few weeks time, I have been given a date for when they will file papers.

I have already been issued with demand papers for the arrears I accumulated whilst in MARPS. I cannot pay the arrears but the bank refuse to recapitalise them.

I am albeit in a position to return to full repayments but the bank are winding down and want very little to do with renegotiation.

Will the Courts still grant repossession if I am back paying my full mortgage repayments but cannot meet the arrears that were accumulated during MARP?
 
Brendan, what is the point of MARP if as soon as you are out of the process they sue you for the arrears accrued during it, it renders the process meaningless. You just wasted whatever length of time you spent in it?????? Surely if it is to have any purpose those arrears need to be absorbed into the capital and the people move forward with repayments they can afford in the long term.
 
have you been cooperating with the bank? have you made a payments towards the arrears?
 
Nec, I am back making full repayments but am unable to make payments towards the arrears as well as paying my full mortgage payment. I have no problem meeting my payments now but paying the arrears now is not possible. They will not recapitalize. I am fully cooperating with the bank but there is absolutely no give on their end.

I agree Cantalia. They have already given me the cost of their legal fees for when they do go to Court. It does not make for nice reading.
 
send them your 6 to 12 months proposal on how your intend to repay the arrears (try to rent out room or two). State it in writing. Send it by registered mail.

This will give you some standing point in the court, do it tomorrow.
 
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